This third and final stage in the strategic management process involves developing an implementation plan and then doing whatever it takes to make the new strategy operational and effective in achieving the organization's objectives. The remainder of this chapter focuses on strategy formulation, and is organized into six sections:
Crude oil prices have dropped at a much faster pace than the drop in product prices. US refining runs (or utilization) have been weak.Singapore gross refining margins (GRMs), an important benchmark, show an improvement to $7.4 per barrel for November.Singapore GRMs for the September quarter stood at $4.8 per barrel and for the month of October was $5.4 a barrel.rude oil prices have dropped at a much faster pace than the drop in product prices. US refining runs (or utilization) have been weak.
The U.S. Department of Energy reports a growing surplus of domestic oil. Because of all these factors, oil prices that regularly reached more than $100 per barrel the past three years have dropped about 40 percent to $60 or below. On December 10 the Energy Department projected an average price of $63 per barrel for West Texas intermediate crude for all of 2015.